Posted July 04, 2019 07:07:51 The future for Fox News is uncertain after the Murdoch family said they were facing mounting pressure from advertisers and the industry, as well as consumers.
News Corp said in a statement that it was “aware of ongoing market concerns regarding the viability of our business model”.
Fox News said it was looking at ways to ensure its future.
“Fox News remains committed to our long-term strategic plan and remains committed and engaged in a number of discussions with industry stakeholders,” it said.
“In the meantime, Fox News will continue to operate as a news and information organisation with a focus on news and opinion.”
News Corp chief executive James Murdoch said the company would “not be deterred by the industry’s efforts to drive down the price of its products or threaten our editorial independence”.
“Our message is clear – we will continue our efforts to create a news business that provides a value proposition that advertisers can value,” Mr Murdoch said.
He added that the company was working to improve its brand and make it more appealing to consumers.
Fox News has been the target of a growing number of criticism from some quarters, including from the US media industry, who have called the network’s coverage of the Zika virus an overreaction to a global pandemic.
The network has faced pressure from consumer advocates, and some members of Congress, to lower the price it charges for its programming.
“We’re working to address that, but we’re not going to get rid of our content unless we’re willing to change the way we make money,” Mr Fox said.